By: Natasha Archary
The ANC has until the close of business on Thursday, 30 June to settle a R100 million debt.
This after the Gauteng High Court ruled in favour of Ezulweni Investments over the supply and installation of election promotional material in 2019.
As per the court order, the ANC will need to pay the sum of R100 050 000 and an additional R 2 415 000, including interest on both amounts.
Failure to pay the stipulated amounts will result in the state seizing ANC assets.
“Should the judgment debt – namely the capital sum and the interest accrued – not be settled by the close of business on Thursday 30 June, our instructions are to proceed with execution against [the ANC’s] assets.”
While the party denied that a contract was agreed upon, the High Court found that Ezuleni Investments CEO, Renash Ramdas, held a verbal agreement.
Ezulweni Investments was to supply the ANC with 30 000 PVC banners, which would also be installed and removed after the elections.
“The High Court found in favour of Ezulweni, holding that an oral agreement, as contended for by Ezulweni, for the supply and installation of the banners was in fact concluded. This conclusion was reached by the High Court, after finding that the evidence did not support the existence of the preconditions contended for by the ANC and that its officials had the requisite authority.”